Form 4: Shore Bancshares CEO James M. Burke Reports Stock Transactions
SEC Form 4
James M. Burke, President & CEO of Shore Bancshares, reports the vesting and acquisition of restricted stock units, as well as adjustments to his holdings in common stock and derivative securities.
Summary
- James M. Burke, the President & CEO of Shore Bancshares Inc. (SHBI), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- On March 6, 2024, restricted stock units converted into 1,563 shares of common stock.
- Burke also acquired 14,037 restricted stock units on March 7, 2024, which vest in annual installments starting March 7, 2025.
- Following these transactions, Burke directly owns 61,851 shares of common stock and indirectly owns 5,708 shares through an ESOP and 2,374 shares through an IRA.
- He also directly owns 37,654 restricted stock units after the reported transactions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Positives
- The acquisition of restricted stock units could be seen as a positive sign, indicating management's belief in the company's future performance.
Future Outlook
The document outlines the vesting schedule for restricted stock units, indicating future dates when additional shares will be released to the reporting person.
Industry Context
Form 4 filings are a routine part of regulatory compliance for corporate insiders and provide transparency into their transactions in company stock.
Stakeholder Impact
- The transactions reported may be of interest to shareholders as they provide insight into the actions of a key executive.
Key Dates
| Date | Description |
|---|---|
| 2023-07-01 | Date of execution for the Limited Power of Attorney for Section 16 Reporting Obligations. |
| 2024-03-06 | Restricted stock units converted into common stock. |
| 2024-03-07 | Acquisition of restricted stock units. |
| 2024-03-08 | Date of signature for the Form 4 filing. |
| 2025-02-10 | Vesting date for 596 restricted stock units. |
| 2025-03-06 | Vesting date for 1,564 restricted stock units. |
| 2026-03-06 | Vesting date for 1,565 restricted stock units. |
| 2024-12-31 | Vesting date for 1,788 restricted stock units. |
| 2025-12-31 | Vesting date for 4,695 restricted stock units. |
| 2024-07-01 | Vesting date for 6,704 restricted stock units. |
| 2025-07-01 | Vesting date for 6,705 restricted stock units. |
| 2025-03-07 | Vesting date for 4,679 restricted stock units. |
| 2026-03-07 | Vesting date for 4,679 restricted stock units. |
| 2027-03-07 | Vesting date for 4,679 restricted stock units. |
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